Section 44AB

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Kalpana Rathi (Querist)
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10 August 2009 Whether for the purpose of Section 44AB gross receipts from profession will be receipts including service tax or excluding service tax?

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
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10 August 2009 excluding servict tax amount

Ratan Sharma

Ratan Sharma (Expert)
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10 August 2009 As the guidance note of our Institute, it depends on the regularly employeed accounting system by the assessee. If you have maintained seprate account for service tax then it will not be included in turnover otherwise it will be included for the purpose of turnover u/s. 44AB.

Kota Ramanjaneyulu

Kota Ramanjaneyulu (Expert)
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10 August 2009 it will depending upon the method of accounting employed in client books, generally it is including servicetax amount because it is forming part of the gross receipts

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